What is covered in zero depreciation car insurance

What Does Zero Depreciation Car Insurance Policy Mean? Zero depreciation means – If you have nil depreciation cover then you can claim the total cost of replacement of car parts in case of accidental damage. The depreciation value of the damaged parts won't be deducted from the claim amount.

What is 0 depreciation car insurance?

A zero dep cover is an add-on in car insurance under which we won't charge you for depreciation during the claim settlement. In simple words, you are not required to pay for the depreciation cost while making a claim. A comprehensive policy provides coverage for own damage and damages caused to the third party. Premium.

Is it worth taking zero depreciation?

Whereas, in zero depreciation, there is a full claim settlement. This means that you will receive full coverage on the car parts – irrespective of its depreciating value. Zero depreciation works well for new and luxury cars, which have expensive spare parts – and whose cost of repair or replacement is generally high.

What is difference between comprehensive and zero depreciation insurance?

Some might also consider a Comprehensive Policy without any car insurance add-ons as a standard plan. A Zero Depreciation Plan is simply a Comprehensive Policy with a Zero Depreciation Add-on. Thus, it is different from a standard Third-party Policy as it offers Own Damage plus Zero Depreciation Cover.

How long can you claim zero DEP insurance?

Age of the Car\n\n The Zero Depreciation Car Policy is applicable for cars under 5 years old only. However, some insurers such as ACKO offer the cover for cars above 5 years old. Ensure you check with the insurance company before opting for the add-on.